In an Effort to Improve the Defense of America's Coastal

question 1

Multiple Choice

In an effort to improve the defense of America's coastal shores, Thomas Jefferson

• A) built a fleet of large frigates and destroyers.
• B) signed a mutual defense treaty with Spain which also involved the purchase of Spanish naval vessels.
• C) constructed two hundred small gunboats.
• D) signed a peace treaty with Great Britain.
• E) signed a new mutual defense treaty with France.

---

Definitions:

Fixed Expenses

Costs that do not change in total despite fluctuations in business activity levels or volume, such as rent or salaries.

Percentage of Sales Approach

A method for forecasting financial needs based on a fixed percentage of projected sales, often used in budgeting and financial planning.

Profit Margin Percentage

A profitability ratio calculated by dividing net income by revenue, expressing the result as a percentage.

Plowback Ratio

The proportion of earnings retained by a business, rather than distributed to its shareholders as dividends, to reinvest in the core business or to pay debt.